Everything You Never Wanted to Know About GAAP – 2018

Price: $143.20

CPE Credits: 16.0

Category:

Course Number: AACSFEGP

GAAP accounting - cpe for 2017

Description: This course covers a variety of issues related to GAAP including the unusual reporting and disclosure issues that develop in practice such as how to disclose life insurance, leases, catastrophes, tax-basis financial statements. : This course is divided into two sections. The purpose of Section I is to review unusual reporting and disclosure issues that develop in practice including questions such as how to disclose life insurance, leases, catastrophes, agreements not to compete, and investments.  Section II deals with how to disclose and present tax-basis financial statements. Table of Contents

Delivery Method: Online QAS Self Study.

Level: Overview.

Prerequisites: General understanding of GAAP and income tax basis financial statements

Advanced Preparation: None

Author: Steven Fustolo, CPA

Publication: March 2015
UpdatedApril 2018

Format: PDF
Pages: 374

Passing Grade: 70%

Exam Policies: Exam may be retaken. Course must be completed within one year of purchase.

CPE Sponsor Info : NASBA/QAS #109234. Click here to view specific state approvals.

After reading the Section I course material, you will be able to:

  • Recall the accounting treatment for non-monetary exchanges
  • Recognize the formula for measuring an impairment of real estate
  • Identify the accounting for different types of investments such as securities, investments using the equity method, and partnerships
  • Recognize some of the disclosures required for trade receivables
  • Recall inventoriable costs
  • Recall the GAAP rules to account for an intangible asset with a finite useful life
  • Identify the GAAP treatment for endorsement split dollar arrangements
  • Identify the accounting for environmental contamination costs
  • Identify examples of costs associated with exit activities
  • Recognize the accounting and classification of shipping and handling costs
  • Recognize the accounting for vendor sales incentive arrangements and cash rebates from a vendor
  • Identify options to avoid having to maintain two depreciation schedules
  • Recall how to account for certain lease arrangements including those involving subleases
  • Recognize how to account for certain transactions on the statement of cash flows
  • Identify examples of group concentrations
  • Identify the basic accounting for fresh start reporting
  • Identify how web development costs are accounted for during certain stages of development
  • Recognize when an entity may elect the fair value option and identify the eligible items for which the option is available

After reading the Section II course material, you will be able to:

  • Recognize some of the M-1 differences that do not apply to tax-basis financial statements
  • Recognize how to account for an accounting change in tax-basis financial statements
  • Recall how to account for and present nontaxable and nondeductible items in tax-basis financial statements
  • Identify the disclosure requirements for tax-basis financial statements
  • Recognize the appropriate and inappropriate financial statement titles for tax-basis financial statements

Description: This course covers a variety of issues related to GAAP including the unusual reporting and disclosure issues that develop in practice such as how to disclose life insurance, leases, catastrophes, tax-basis financial statements. : This course is divided into two sections. The purpose of Section I is to review unusual reporting and disclosure issues that develop in practice including questions such as how to disclose life insurance, leases, catastrophes, agreements not to compete, and investments.  Section II deals with how to disclose and present tax-basis financial statements. Table of Contents

Delivery Method: Online QAS Self Study.

Level: Overview.

Prerequisites: General understanding of GAAP and income tax basis financial statements

Advanced Preparation: None

Author: Steven Fustolo, CPA

Publication: March 2015
UpdatedApril 2018

Format: PDF
Pages: 374

Passing Grade: 70%

Exam Policies: Exam may be retaken. Course must be completed within one year of purchase.

CPE Sponsor Info : NASBA/QAS #109234. Click here to view specific state approvals.

After reading the Section I course material, you will be able to:

  • Recall the accounting treatment for non-monetary exchanges
  • Recognize the formula for measuring an impairment of real estate
  • Identify the accounting for different types of investments such as securities, investments using the equity method, and partnerships
  • Recognize some of the disclosures required for trade receivables
  • Recall inventoriable costs
  • Recall the GAAP rules to account for an intangible asset with a finite useful life
  • Identify the GAAP treatment for endorsement split dollar arrangements
  • Identify the accounting for environmental contamination costs
  • Identify examples of costs associated with exit activities
  • Recognize the accounting and classification of shipping and handling costs
  • Recognize the accounting for vendor sales incentive arrangements and cash rebates from a vendor
  • Identify options to avoid having to maintain two depreciation schedules
  • Recall how to account for certain lease arrangements including those involving subleases
  • Recognize how to account for certain transactions on the statement of cash flows
  • Identify examples of group concentrations
  • Identify the basic accounting for fresh start reporting
  • Identify how web development costs are accounted for during certain stages of development
  • Recognize when an entity may elect the fair value option and identify the eligible items for which the option is available

After reading the Section II course material, you will be able to:

  • Recognize some of the M-1 differences that do not apply to tax-basis financial statements
  • Recognize how to account for an accounting change in tax-basis financial statements
  • Recall how to account for and present nontaxable and nondeductible items in tax-basis financial statements
  • Identify the disclosure requirements for tax-basis financial statements
  • Recognize the appropriate and inappropriate financial statement titles for tax-basis financial statements
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